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TAFI vs VTES: Differences, Returns & Fees

On May 31, 2026 TAFI's duration was 1.9 years and VTES's 2.8; VTES charges 0.05% to TAFI's 0.27%. Net assets: $1.4bn on Oct 8, 2026 for AB Tax-Aware Short Duration Municipal ETF, and $3.6bn on Sep 30, 2026 for Vanguard Short-Term Tax-Exempt Bond ETF.

VTES costs 0.22 points a year less; their one-year returns differ by 0.5 points; VTES is 1.6 times larger.

TAFIVTES
Expense ratio0.27%0.05%
Net assets, as of May 31, 2026$1.3bn$2.0bn
Total return, 1 year+0.5%0.0%
What it tracksNo index, actively managedS&P 0-7 Year National AMT-Free Municipal Bond Index
Holdings in common3%

Holdings in common uses holdings dated May 31, 2026.

+0.5%
TAFI total return, 1 year
0.0%
VTES total return, 1 year
0.27%
TAFI expense ratio
0.05%
VTES expense ratio

What they hold in common

By the books each fund has filed, TAFI and VTES hold 3% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated May 31, 2026.

half

3% in common

Positions both hold, largest shared weight first
Holding TAFI VTES
ILLINOIS ST, due Nov 1, 2027 0.20% 0.23%
NEW JERSEY ST TRANSPRTN TRUST FUND AUTH, due Jun 15, 2028 0.17% 0.22%
LOS ANGELES CA DEPT OF WTR & PWR REVENUE, due Jul 1, 2028 0.37% 0.17%
UNIV OF CALIFORNIA CA REVENUES, due May 15, 2030 0.61% 0.15%
MARYLAND ST, due Aug 1, 2028 0.13% 0.12%
MIAMI-DADE CNTY FL SCH BRD COPS, due Feb 1, 2032 0.13% 0.12%
NEW JERSEY ST TRANSPRTN TRUST FUND AUTH, due Jun 15, 2027 0.29% 0.11%
ILLINOIS ST, due Nov 1, 2026 0.16% 0.09%
FLORIDA INSURANCE ASSISTANCE INTERLOCAL AGY, due Sep 1, 2027 0.32% 0.09%
ARIZONA ST INDL DEV AUTH NATIONAL CHRT SCH REVOLVING LOAN FD, due Nov 1, 2031 0.09% 0.13%
DALLAS TX INDEP SCH DIST, due Feb 15, 2056 0.08% 0.23%
MET TRANSPRTN AUTH NY REVENUE, due Nov 15, 2029 0.16% 0.08%
Only in TAFI
COLORADO ST EDUC LOAN PROGRAM, due Jun 30, 2026 1.53%
TRIBOROUGH NY BRIDGE & TUNNEL AUTH REVENUES, due Jan 1, 2031 0.97%
QUINCY MA, due Jul 24, 2026 0.68%
PUERTO RICO CMWLTH, due Jul 1, 2027 0.63%
ILLINOIS ST FIN AUTH REVENUE, due Nov 15, 2037 0.56%
NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE, due Jan 1, 2030 0.55%
COLORADO ST EDUC LOAN PROGRAM, due Jun 30, 2026 0.53%
NEW JERSEY ST ECON DEV AUTH, due Sep 1, 2029 0.51%
Only in VTES
NYC TRANSITIONAL-G-1, due Nov 1, 2029 0.27%
CALIFORNIA ST-REF, due Aug 1, 2030 0.25%
NEW JERSEY ST ECON DE, due Jun 15, 2042 0.23%
NEW JERSEY ST-A, due Jun 1, 2028 0.22%
LOS ANGELES UNIF SD-A, due Jul 1, 2032 0.21%
WYANDOTTE CO SD#500-A, due Sep 1, 2042 0.20%
E CO AWP JT PWRS-A-1, due Sep 1, 2026 0.20%
UNIV OF TEXAS TX PERM, due Jul 1, 2041 0.20%

Check overlap with more funds →

On the same fields

TAFI
AB Tax-Aware Short Duration Municipal ETF
VTES
Vanguard Short-Term Tax-Exempt Bond ETF
Where it sits Bond ETF Bond ETF
Issuer AllianceBernstein Vanguard
What it is Actively managed Tracks an index
Total return, 1 year +0.5% 0.0%
S&P 500 over the same days +17.3% +17.3%
Gap to the S&P 500 −16.8 pts −17.2 pts
Expense ratio 0.27% 0.05%
Holdings 684 3443
Net assets, TAFI as of Oct 8, 2026 and VTES as of Sep 30, 2026 $1.4bn $3.6bn

TAFI and VTES on the fields both publish, as of Oct 9, 2026. Source: ETFIQ.

TAFI in plain words

TAFI is actively managed and tracks no index. Over the year to Oct 9, 2026 it returned +0.5% with distributions reinvested. The prospectus expense ratio is 0.27% a year.

VTES in plain words

VTES tracks an index. Over the year to Oct 9, 2026 it returned 0.0% with distributions reinvested. The prospectus expense ratio is 0.05% a year.

Questions people ask

Which returned more over the last year, TAFI or VTES?
In the year to Oct 9, 2026, with distributions reinvested, TAFI returned +0.5% and VTES 0.0%.
Which is cheaper, TAFI or VTES?
VTES is cheaper, by 0.22 percentage points a year. That is about $22 on $10,000 held for a year. Fees come from each fund's prospectus.
Other comparisons
SMMU vs TAFISUB vs TAFISHM vs TAFIJMST vs TAFISUB vs VTESMEAR vs VTESCGSM vs VTESSMMU vs VTES
TAFI on its own →VTES on its own →Hold both: look the portfolio through →Rankings →Standards and sources →
Where these figures came from
TAFI filings on SEC EDGAR ↗TAFI prospectus with the expense ratio (SEC) ↗VTES filings on SEC EDGAR ↗VTES prospectus with the expense ratio (SEC) ↗Vanguard page for VTES ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Cite this pageCitation, APA and Markdown

ETFIQ, TAFI against VTES, data as of Oct 9, 2026. https://etfiq.com/compare/any/tafi-vs-vtes

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.